Elon Musk Just Took a Third Major Step Toward His Dream of Making Twitter an “Everything App”

wccftech.com:

This is not investment advice. The author has no position in any of the stocks mentioned. Wccftech.com has a disclosure and ethics policy.

When it rains, it pours. This is exactly how one can describe Elon Musk’s management style, punctuated by a Pitbull-like dogged pursuit of stated goals, come what may. In recent days, the world’s richest person has taken major steps toward transforming Twitter into an “everything app” in the pattern of Tencent’s WeChat.

I tell my students that Han Solo, that lovable rogue, would pick Nevada. We offer reduced governance costs through expansive statutory liability shields.

It’s a trade off though. Broad liability shields mean narrow options for investors to hold directors accountable. https://t.co/y9tx4DeRjh

— Ben Edwards (@BenPEdwards) April 11, 2023

First, revealed via a court filing in early April, it emerged that Twitter has now been merged with Elon Musk’s shell company, X Corp. As we had noted at the time, the fact that X Corp. is registered in Nevada instead of Delaware – the seat of three other shell companies that Musk had registered last year – is quite significant, given Nevada’s “expansive statutory liability shields.” Of course, the fact that the Delaware Court of Chancery would not have a natural jurisdiction in Nevada could only have been a plus point in Elon Musk’s book after the drama that ensued last year as the CEO of Tesla tried to wriggle out of a legally binding agreement to acquire Twitter at $54.20 per share.

Then came reports that Elon Musk had purchased 10,000 GPUs and poached talent from DeepMind – a subsidiary of Google’s Alphabet – to run a new AI project that involves a Large Language Model (LLM). Given Musk’s penchant for vertical integration, we believe that